Oakbay said it themselves; they’re out of the picture!— Luthando Vutula, UBank CEO
The Gupta family is pursuing the shareholders of UBank in a bid to buy the institution, according to the Independent newspapers.
Gupta-owned Oakbay Investments' CEO Nazeem Howa told Fin24 that the company did express an early interest in UBank a couple of years ago, but voluntarily walked away from the process at an early stage.
According to Bloomberg, the National Union of Mineworkers (NUM) said it will block the sale of its 50% stake in the bank to the Gupta family.
The Money Show’s Bruce Whitfield spoke to UBank CEO Luthando Vutula.
Scroll down for quotes from the audio below.
We’re not selling the bank. We’re raising capital.— Luthando Vutula, UBank CEO
We’re raising almost a billion rand.— Luthando Vutula, UBank CEO
We’ve asked the current shareholders for capital.— Luthando Vutula, UBank CEO
Ultimately, the Minister of Finance has to approve.— Luthando Vutula, UBank CEO
We’ll present a plan to the Reserve Bank on 1 July.— Luthando Vutula, UBank CEO
We need capital to diversify away from mining.— Luthando Vutula, UBank CEO
Tier-2 banks has a place in this country as long as you understand your market.— Luthando Vutula, UBank CEO
Our intent is never to compete with the Big Four banks.— Luthando Vutula, UBank CEO
Bruce Whitfield interviewed EWN reporter Rahima Essop and Prof Somadoda Fikeni, Adviser to Unisa's Vice-Chancellor.
The Money Show’s Bruce Whitfield interviews the former CEO of Africa’s largest retailer by far.
The Money Show’s Bruce Whitfield interviews Investec Asset Management Economist Nazmeera Moola.
In other words; you’re probably a victim. The Money Show’s Bruce Whitfield interviews Stuff magazine’s Toby Shapshak.
Can a bank pull the plug on a client for reputational risk? The Bredenkamp vs Standard Bank case suggests it can.
David Van Rooyen arrived at Treasury as Finance Minister with two Gupta allies as "advisors", claims correspondent John Battersby.
ANC branch in the Eastern Cape, Z.R Mahabana, has launched a campaign backing Lindiwe Sisuslu as an ANC presidential candidate.
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.
This week Xolani Gwala's speaks to former Generations actor Pamela Nomvete for #WhatInTheWorldHappenedTo feature.
Fees Must Fall activists singing the national anthem with a new melody and phrases calling it a 'decolonised national anthem'.
After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?